Jeffrey Jacobs

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Magna Sells Management Interest in Colonial Downs

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Magna Entertainment Corp. and Colonial Downs, L.P. announced Thursday they have entered into an agreement under which Colonial LP will acquire all of the outstanding shares of Maryland- Virginia Racing Circuit, Inc., a subsidiary of Magna Entertainment.

Colonial's Privatization Plan OK'd by Commission

The plan to privatize Colonial Downs moved a step closer to fruition Tuesday when the Virginia Racing Commission, after a public hearing and about an hour of deliberation, voted 3-2 to allow the acquisition of Colonial Holdings Inc. by Gameco Inc.

Still No Loan, But Colonial Meet Remains on Track

Only weeks before the scheduled opening of its Thoroughbred meet, Colonial Downs still hasn't secured a loan to fund purses for its summer meet. It appears, though, that track owner Jeffrey Jacobs and some horsemen are prepared to provide the funds in the interim.

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